8-KOther Events

METLIFE INC 8-K Report (Dec 3, 2002)

Filed December 3, 2002For Securities:METMET-PEMET-PFMET-PA

Summary

MetLife Inc. (MET) filed a Form 8-K on December 3, 2002, to correct previously reported financial figures in its Quarterly Report on Form 10-Q for the period ended September 30, 2002. The filing specifically addresses discrepancies in the "Liquidity and Capital Resources -- The Company -- Consolidated Cash Flows" section. Investors should note that these are not new events or changes in financial condition, but rather restatements of previously disclosed information to ensure accuracy.

Key Highlights

  • 1Correction of financial data in the Q3 2002 Form 10-Q.
  • 2Specifically revises amounts related to net cash provided by financing activities for the nine months ended September 30, 2002 and 2001.
  • 3Adjusts reported net cash from financing activities for nine months ended Sept 30, 2002, from $4,476 million to $3,787 million.
  • 4Adjusts reported net cash from financing activities for nine months ended Sept 30, 2001, from $823 million to $921 million.
  • 5Corrects figures for deposits to policyholders' account balances exceeding withdrawals for the nine months ended September 30, 2002 and 2001.
  • 6Revises policyholder account balance excess for nine months ended Sept 30, 2002, from $4,624 million to $3,935 million.
  • 7Revises policyholder account balance excess for nine months ended Sept 30, 2001, from $2,321 million to $2,419 million.

Frequently Asked Questions

The primary purpose of this 8-K filing is to correct specific financial amounts previously reported in MetLife's Form 10-Q for the quarter ended September 30, 2002. It corrects errors in the 'Consolidated Cash Flows' section.

These are corrections of previously reported figures, not indications of new financial performance trends or changes in the company's overall financial health. While the dollar amounts have been adjusted, the nature of the cash flows remains the same.

The filing corrects amounts for 'net cash provided by financing activities' and the excess of 'deposits to policyholders' account balances over withdrawals' for the nine-month periods ended September 30, 2002, and 2001.

No, this filing is purely a correction of accounting entries. It does not reflect any new strategic decisions, operational changes, or shifts in financial management by MetLife.